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PETROL, DIESEL PRICES HIKED BY Rs 2 & Re 1

THE government has finally bitten the bullet after several rounds of deliberations on raising auto fuel prices. Despite the Left’s opposition, it has raised petrol and diesel prices by Rs 2 per litre and Re 1 per litre from February 15. Petrol now costs Rs 45.52 per litre in Delhi (up from Rs 43.52 per litre) while diesel is priced at Rs 31.76 per litre (up from Rs 30.48 per litre).
“In line with the principle of equitable burden sharing, the government has decided on partial restoration in retail prices wherein an increase of Rs 2 per litre for petrol and Re 1 per litre for diesel is being made in the retail selling prices (in Delhi) from Friday,” oil minister Murli Deora said.
The Left parties have predictably demanded an immediate rollback, failing which they have threatened to launch nationwide protests. The matter is expected to be raised in the Budget session, which begins on February 25.
The effective increase in prices of petrol and diesel could be marginally higher than Rs 2 per litre and Re 1 per per litre due to adjustment of local levies. Consequently, in Mumbai, petrol would now be sold at Rs 50.51 per litre (from Rs 48.38 per litre) and in Chennai Rs 49.61 per litre (from Rs 47.44 per litre). Diesel in Mumbai would now be Rs 36.08 per litre (from Rs 34.94 per litre) and in Chennai Rs 34.40 per litre (from Rs 33.30 per litre). “Increases in other locations will be made in line with net increase at Delhi and applicable taxes and duties,” an official in the petroleum ministry said.